Trésorier/Treasurer magazine - N°85 - April/May/June 2014 - (Page 64)
15 MINUTES WITH...
- Is Luxembourg a good location for a corporate
LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE - N°85 - APR
/ MAY / JUN 2014
FM : There is no doubt that over the years, for many reasons,
Luxembourg has become a top location for the treasury and
central financing functions of many multinational groups. The
attraction of Luxembourg's financial centre is undeniable, and
it has achieved real success. ATEL («Association des Trésoriers
d'Entreprise du Luxembourg - Luxembourg Treasury Association», founded in 1994) nevertheless believes that the Grand
Duchy holds the keys to the potential for even greater attractiveness, in spite of the current global economic climate.
OR : For that reason, and because international companies are
ever more frequently showing an interest in Luxembourg when
looking for a local presence, ATEL's Board has set up a special
internal unit to undertake this task: the LCTE «Luxembourg
Corporate Treasury Expertise» unit. LCTE is a brand name for
promoting the treasury industry, officially launched in March
2013 in partnership with the Ministry of Foreign Trade. It is an
innovative concept for promoting professional treasury expertise in Luxembourg.
- What are the main purposes of this new concept
FM : The main purpose of our working group is to bring all the
local players on board and also to coordinate initiatives and actions between the various stakeholders, both local and foreign,
to «sell» the Grand Duchy of Luxembourg as an ideal location
for a European treasury centre. ATEL also wants to raise the
LCTE working group's status to that of «think tank», with the
aim of boosting Luxembourg's attractiveness as far as possible.
With this in mind, ATEL plans to give priority to professional training (one of its main tasks) and to providing logistical
support to new arrivals together with tailored help and regular
follow-up for foreign companies already located here.
O.R : Obviously, the existence of a representative, dynamic,
cosmopolitan and well-organised treasurers' association
contributes indisputable added value when it comes to making
choices on where to relocate to or from in the future. Furthermore ATEL, as an incorporated professional organisation,
has the advantage of being an independent and not-for-profit
organisation. In combination, all these points give ATEL an
objectivity and credibility in the eyes of our peers when they
come to make their choice of the best geographical location for
their European treasury centre.
- Is there expertise and skilled staffing in corporate
treasury in Luxembourg?
F.M : LCTE will therefore establish itself as a unique hallmark
of the quality and expertise of local treasurers. It will be made
available to international groups who want to settle in the Grand
Duchy. Through this brand, ATEL also wants to underline the
quality of our finance professionals (in the broad sense of the
term) and to develop their skills as far as possible so that they
can fully meet the human resources needs of future treasury
centres wanting to join us.
O.R : By being involved in coordinating many private and public
sector initiatives, LCTE is making an absolute commitment to
promoting Luxembourg's financial centre as a hub specialising
in centralised treasury management. There are many success
stories in existence that can bear witness to the many benefits
and advantages of locating in Luxembourg. Through the official
recognition of quality and expertise in treasury management,
corporate finance and risk management, LCTE acts as a real driver for recommendations in legal, tax and other matters, with
the purpose of boosting the attractiveness of the Luxembourg
financial centre for foreign companies.
Table des matières de la publication Trésorier/Treasurer magazine - N°85 - April/May/June 2014
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW L’impact du nouveau référenteil COSO sur les trésoriers
15 MINUTES WITH LCTE
THE FINANCIAL RISK OBSERVATORY - The World around us
Trésorier/Treasurer magazine - N°85 - April/May/June 2014